Proposal for changes to Telenor ASA's Board of Directors

13 Apr 2023 08:30 CEST

The Nomination Committee of Telenor ASA proposes Jens Petter Olsen as new Chair
of the Board of Directors.

At the Capital Markets Day in September 2022, Telenor’s strategy towards 2025
was presented. The strategy sets Telenor up to create shareholder value through
four separate business areas: Telenor Nordics, Telenor Asia, Telenor
Infrastructure and Telenor Amp. The new strategy was launched to support
profitable long-term growth and building services with secure and reliable
connections to more customers.

Gunn Wærsted has served as Chair of the Board of Telenor ASA for more than 7
years and is the longest serving chair in Telenor since the company was listed
on the stock exchange in 2000. In light of her long tenure and the start of a
new strategic period, it is natural to do a change now.

The Nomination Committee has conducted a thorough assessment of potential
candidates for the role as new Chair of the Board of Directors of Telenor ASA.

Jens Petter Olsen has extensive experience from the financial sector and capital
markets. Since 2019 he has been a Member of the Board of Directors at DNB, where
he also chairs the Risk Management Committee. From 2008 to 2018, he was employed
at Danske Bank mainly in various management positions, including heading Markets
Norway from 2011 to 2014 and Capital Markets from 2014 to 2018. Olsen also has
more than ten years of experience from Norges Bank and Norges Bank Investment
Management (NBIM), including heading the New York office of NBIM from 2000 to
2008. He has a degree in Economics and Business Administration (Siviløkonom HAE)
from Norwegian School of Economics and a Master of Philosophy (Finance) from
London Business School. His management experience and knowledge of capital
markets along with his international background has been considered important
for the nomination to this role.
Telenor’s Corporate Assembly is responsible for the election of the Chair of the
Board and will consider this proposal in its meeting on 10 May 2023. The
remaining proposal for the election of shareholder elected members to the Board
will be presented by 3 May 2023. Three other shareholder representatives are up
for election this year.

Investor relations contact:
Øystein Myrvold +47 99230460

Media contact:
David Fidjeland +47 93467224

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